EU to provide Euros 46.79 mln for Balochistan rural development

ISLAMABAD, June 29 (APP): The European Union and Government of Pakistan signed two agreements to provide grant of Euros 59.39 for the rural development and community empowerment programme in Balochistan and for International labour and environment standards application in Pakistan’s SMEs.

According to the agreements, a grant of 46.79 million would be provided for rural development and community empowerment programme while Euros 12.6 million would be provided for international labour and environment standards application in Pakistan’s SMEs.

Tariq Bajwa, Secretary Economic Affairs Division and Stefano GATTO, Charge ‘d’Affairs of the European Union signed agreements in a cermony held here on Wednesday.

Tariq Bajwa on the occasion said that the grants would be utilized to remove negative impacts of poverty, poor health and illiteracy in Balochistan.

He acknowledged the role of the European Union in helping the government of Pakistan achieve sustainable socio-economic objectives and said these agreements are evident of the European Union’s continued commitment to the development sector in Pakistan.

Highlighting the role of European Union Stefano Gatto said that the European Union was playing important role in the development sector of Pakistan and underlined that the European Union would continue the same in future also.

Meanwhile, Tariq Bajwa and Wolfgang Moellers, Country Director, KfW, a German Government owned bank also signed the Financing Agreement of Euros 6 million for Glacier Monitoring for Energy and Water Security in Pakistan.

Wolfgang moellers stated that the agreement would help the government of Pakistan in meeting the challenges posed by climate change.

Mr Moellers said that being the custodian of the largest number of Glaciers outside the arctic, Pakistan can surely assume global leadership in addressing a critical aspect of Climate Change through this project.

He stated that the KfW would continue its cooperation with the government in this regard.

Tariq Bajwa, Secretary Economic Affairs Division stated that climate change was one of the major challenges facing the world today and needs an adequate and urgent management.

Secretary EAD thanked KfW for its cooperation with the government of Pakistan in Glacier Monitoring and expressed the hope that the bilateral cooperation would result in better management of glaciers and water issues in Pakistan.